The Reds have made a disappointing start to the 2017-18 season following a return of three victories in their opening eight fixtures.
Liverpool have signed 11 players in two summer transfer windows since Klopp took over the reins from Brendan Rodgers in October 2015.
The Merseyside outfit have spent less than £15m on three defenders as the Reds recruited Estonia international Ragnar Klavan, Hull City full-back Andy Robertson and Schalke 04 centre-half Joel Matip.
Unsurprisingly, Liverpool have been contending with some defensive issues after conceding 12 times in eight games in the 2017-18 Premier League season so far.
The Reds missed out on Netherlands international Virgil van Dijk in the summer transfer window but the 26-year-old centre-half wasn’t allowed to leave Southampton.
Former Liverpool midfielder Murphy believes Klopp will unearth some brilliant signings like he did during his spell in charge at Borussia Dortmund over the next 24 months.
“Liverpool will hope to benefit from Klopp’s Dortmund days. Bayern were his rivals and he still managed to compete. That’s where Liverpool are at,” Murphy told Sky Sports.
“Liverpool can’t compete with Man United for Pogba and Lukaku. Maybe having Klopp at Liverpool after his Dortmund experience is a good thing.
“He can find those diamonds in the rough. Over the next year or two, you should start seeing him use his experience in the transfer market.”
Liverpool finished in fourth place in the Premier League table last term in Klopp’s first full season in charge.
The Reds signed four players in the summer transfer window and have agreed a deal with RB Leipzig to sign Naby Keita next summer.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news